Private Trust Co. NA lifted its position in Raytheon (NYSE:RTN) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,380 shares of the aerospace company’s stock after buying an additional 635 shares during the period. Private Trust Co. NA’s holdings in Raytheon were worth $1,574,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in Raytheon during the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC bought a new position in Raytheon during the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV bought a new position in Raytheon during the fourth quarter valued at approximately $106,000. Jacobi Capital Management LLC lifted its position in Raytheon by 5.3% during the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 40 shares during the period. Finally, Invictus RG bought a new position in Raytheon during the third quarter valued at approximately $152,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.
Shares of Raytheon (RTN) traded up $0.17 during mid-day trading on Tuesday, reaching $197.61. 757,416 shares of the company’s stock were exchanged, compared to its average volume of 1,290,000. Raytheon has a twelve month low of $141.28 and a twelve month high of $199.75. The stock has a market capitalization of $57,130.00, a PE ratio of 26.60, a P/E/G ratio of 2.73 and a beta of 0.58. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a yield of 1.61%. Raytheon’s dividend payout ratio is currently 42.93%.
Raytheon announced that its Board of Directors has initiated a share buyback program on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently weighed in on the stock. Wells Fargo & Co restated an “outperform” rating and set a $215.00 price objective (up previously from $202.00) on shares of Raytheon in a research report on Tuesday. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price objective on the stock in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $210.00 price objective on shares of Raytheon in a research report on Tuesday, January 9th. Robert W. Baird restated a “buy” rating and set a $212.00 price objective on shares of Raytheon in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada restated a “buy” rating and set a $209.00 price objective on shares of Raytheon in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Raytheon presently has a consensus rating of “Buy” and an average price target of $204.12.
In other news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. Following the completion of the sale, the vice president now directly owns 28,311 shares of the company’s stock, valued at $5,354,459.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is owned by corporate insiders.
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Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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